2024-11-22
http://w3.windfair.us/wind-energy/news/26253-abb-ge-industrial-solutions-electrification

ABB aquires GE Industrial Solutions, GE’s global electrification solutions business

“With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market,” said ABB CEO Ulrich Spiesshofer.

Official Press Release ABB:

ABB to acquire GE Industrial Solutions

Shaping leadership in electrification

ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion, with an operational EBITDA margin of approximately 8 percent1 and an operational EBITA margin of approximately 6 percent1. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year... ... More: Official Press Release ABB

Keywords:
ABB, GE Industrial Solutions, electrification







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